API: Crude inventories fell by 1.5 million barrels in the week to Nov. 16

According to Reuters, the weekly report published by the American Petroleum Institue on Tuesday showed that crude oil inventories in the U.S. fell by 1.5 million barrels in the week ending November 16 to 439.2 million barrels.

Refinery crude runs rose by 398,000 barrels per day, the publication revealed and gasoline stocks rose by 706,000 barrels, compared with analysts' expectations in a Reuters poll for a 198,000-barrel decline. 

The barrel of West Texas Intermediate didn't react to the data and was down 7% at $53.30 in post-settlement trade.